Mediolanum International Funds Ltd Lowers Holdings in MetLife, Inc. $MET

Key Points

• Mediolanum International Funds Ltd cut its MetLife stake by 5.8% in the first quarter, selling 11,627 shares and ending with 189,289 shares valued at about $12.9 million.
• Several analysts remain constructive on MetLife, with recent price target increases from firms like Morgan Stanley and Keefe, Bruyette & Woods; the stock now carries a Moderate Buy consensus and an average target of $98.57.
• MetLife recently beat earnings expectations with $2.42 EPS, and it also declared a quarterly dividend of $0.5925 per share, implying a 2.5% yield.

Mediolanum International Funds Ltd trimmed its stake in MetLife, Inc. (NYSE:MET - Free Report) by 5.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 189,289 shares of the financial services provider's stock after selling 11,627 shares during the quarter. Mediolanum International Funds Ltd's holdings in MetLife were worth $12,923,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Commonwealth Retirement Investments LLC lifted its holdings in shares of MetLife by 0.5% during the fourth quarter. Commonwealth Retirement Investments LLC now owns 26,953 shares of the financial services provider's stock valued at $2,128,000 after purchasing an additional 131 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in MetLife by 1.3% in the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the financial services provider's stock worth $802,000 after buying an additional 135 shares in the last quarter. Kathmere Capital Management LLC raised its position in MetLife by 2.4% in the 1st quarter. Kathmere Capital Management LLC now owns 5,813 shares of the financial services provider's stock worth $411,000 after buying an additional 136 shares during the last quarter. Trust Co. of Toledo NA OH raised its position in MetLife by 0.5% in the 4th quarter. Trust Co. of Toledo NA OH now owns 30,431 shares of the financial services provider's stock worth $2,402,000 after buying an additional 138 shares during the last quarter. Finally, Bridgewater Advisors Inc. lifted its stake in MetLife by 3.5% during the 4th quarter. Bridgewater Advisors Inc. now owns 4,113 shares of the financial services provider's stock valued at $315,000 after acquiring an additional 140 shares during the period. 94.99% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting MetLife

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife Stadium is hosting the World Cup final, which keeps the venue in the global spotlight and may highlight the company’s high-profile asset and brand visibility. FIFA insists MetLife Stadium’s pitch is ready for the World Cup final despite criticism
• Positive Sentiment: Heavy media coverage around ticket sales, fan guides, food and drink pricing, and kickoff details suggests strong interest and traffic around the event at MetLife Stadium. How to buy tickets to see Spain in World Cup Final at MetLife
• Neutral Sentiment: News about weather, heat, storms, air quality, and wildfire smoke could affect the event experience, but it does not directly change MetLife’s earnings outlook. World Cup final could be shaped by heat, storms and air quality at MetLife Stadium
• Neutral Sentiment: FIFA’s criticism of the pitch and the “money grab” controversy may create headline risk for the venue, but the impact on MetLife’s stock is likely limited unless the issue affects operations or reputation more broadly. NJ governor slams FIFA’s money grab over sales of MetLife World Cup pitch
• Negative Sentiment: Ongoing criticism about the field quality and pitch conditions at MetLife Stadium could dent the venue’s reputation, even though it is unlikely to materially affect MetLife’s insurance business. The MetLife trap: the controversial pitch threatening the final | OneFootball

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of MetLife from $86.00 to $90.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. Bank of America lowered their price objective on shares of MetLife from $103.00 to $99.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. Barclays lifted their target price on shares of MetLife from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 7th. Morgan Stanley boosted their target price on shares of MetLife from $93.00 to $103.00 and gave the company an "overweight" rating in a research note on Monday, July 6th. Finally, Keefe, Bruyette & Woods raised their price target on MetLife from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, MetLife has a consensus rating of "Moderate Buy" and an average target price of $98.57.

MetLife Price Performance

Shares of NYSE:MET opened at $93.99 on Monday. The firm's 50 day moving average price is $85.80 and its 200-day moving average price is $79.07. MetLife, Inc. has a twelve month low of $67.33 and a twelve month high of $94.86. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $60.48 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78.

MetLife (NYSE:MET - Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.15. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The company had revenue of $14.18 billion during the quarter, compared to analyst estimates of $19.49 billion. During the same period in the previous year, the business posted $1.96 earnings per share. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts expect that MetLife, Inc. will post 9.94 EPS for the current year.

MetLife Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 4th will be paid a dividend of $0.5925 per share. This represents a $2.37 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 4th. MetLife's dividend payout ratio (DPR) is currently 45.93%.

About MetLife

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.

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